Willem secure financial boost
Tuesday, May 25, 2004
Article summary
Willem II have signed an agreement with the City of Tilburg over ownership of their stadium.
Article body
Debts paid
The deal will provide Willem with €14m at short notice to pay off debts and put the Dutch club on a financially secure footing. In exchange, Willem will rent the stadium at a reported cost of €1m a year.
Name change
The club will pay back the investment over a period of 27 years. As part of the agreement, the club will change their name to Willem II Tilburg to reflect the city's contribution. Willem finished seventh in the Eredivisie this season.
